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We estimate that there are 97,000 properties worth over £2million in the UK, a figures that has risen by 36,000 since 2009.
This tax will hit London disproportionately. Over 80 per cent of properties over £2 million are in London.

The London property market has already had to absorb a fair amount of extra taxation over the last couple of years since the idea of Mansion Tax first emerged.

The Labour leader Ed Miliband has denied claims he's being too slow to appoint a candidate for the next race to be London Mayor. ITV London news has learned that some party members are frustrated that the contest is still wide open, believing it could have an impact on Labour's chances.